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Paytm launches gold savings, gifting services under wealth management offering
The company said more than 60% of Paytm Gold purchases are from tier two and three cities with millennials constituting the majority.
Mobile application based financial services platform Paytm has announced the launch of two new services - Gold Gifting and Gold Savings Plan -- as part of its wealth management offering, Paytm Gold.
The company said customers can now send 24k 999.9 purity gold to each other instantly - offering them a convenient gifting solution.
The company said more than 60% of Paytm Gold purchases are from tier two and three cities with millennials constituting the majority.
The platform has witnessed repeat purchases of Paytm Gold worth up to Rs 500 at regular intervals, the company said in a release.
The company said the Gold Savings Plan intends to help customers conveniently and regularly save in gold, as per their budget and requirement by entering the duration, frequency and amount of gold they want to save.
The company said the customer’s gold will be stored in MMTC PAMP’s (a precious metals processing facility) secure and 100% insured’ lockers for free, with the option to get the gold delivered at any time.
“This would eliminate additional fees associated with offline Gold purchase like making and locker charges, while offering customers access to trusted and affordable gold savings for the long-term,” the company said.
